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Conifex Posts Another Quarterly Loss
Conifex Timber has posted another quarterly loss of $2.4 million for the three months ending June 30th.
The loss is still an improvement from the first quarter of 2012 where the company posted a $6.5 million net loss as well as the second quarter of 2011 which saw $3.6 million in the red.
Conifex CEO Ken Shields says changes meant to improve efficiencies at the company's Fort St. James sawmill have yet to bear fruit, the same problem originally seen after the aquisition of two logistics companies.
"However results improved in the second quarter and these businesses are now producing results that are completely in line with the expectations we developed," said Shields.
Shields is hopeful a change in leadership at Fort St. James will see a turnaround by the end of the year.
He says the fact Conifex has been unable to find the same profit margins as larger lumber companies is unacceptable.
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